Enbridge Adds More Crude Oil Tankage to Oklahoma Petroleum Storage Terminal

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Enbridge Energy Partners LP (Houston, Texas), a subsidiary of Canadian energy major Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta), has started the civil construction phase of its crude oil storage terminal expansion in Cushing, Oklahoma. The expansion project will entail the construction of four new 575,000 barrel crude storage tanks and crude handling facilities.

Enbridge awarded Matrix Service Company (NASDAQ:MTRX ) (Tulsa Okalahoma) the engineering, procurement and construction contract for the expansion, which started a few weeks ago. In a separate project, Matrix began construction on the Phase V expansion of another crude oil storage terminal in Cushing owned by Plains All American Pipeline LP (NYSE:PAA) (Houston, Texas). The Phase V expansion will add another four 270,000 barrel capacity storage tanks to the area and will bring the total capacity of the Plains All American terminal to approximately 7.4 million barrels, with a daily handling capacity of 800,000 barrels.

These projects are two of 92 industrial projects, representing more than $1.3 billion in TIV that are scheduled to begin construction this year in Oklahoma. This includes close to $175 million in oil and gas related (terminals, transmission, and production) projects in the state. Click on the image at right to view a breakdown of the spending by industry.

When completed the Enbridge expansion project will increase the crude oil storage capacity of the terminal from its present eight million barrels to just over ten million barrels and bring the number of existing tanks to nearly ninety. Construction on the $20 million project is expected to be completed by the end of 2005. Completion of this project will coincide with the Spearhead Pipeline reversal project, which terminates at the Cushing facility and will provide 120,000-125,000 barrels per day of a 50/50 mix of sweet & heavy crude.

For more information see - Enbridge Planning to Construct a New Crude Oil Pipeline to Serve U.S. Market

After the present expansion is completed, Enbridge will be studying the feasibility of further expansions by removing several smaller tanks dating back to the 1920's or just rehabilitating the older tanks to bring them up to code.

View Project Report - 11002324 08000917

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